Redding, California - August 27, 2024
Pharmaceutical Automation Market to be Worth $25.11 Billion by 2031
Pharmaceutical Automation Market Size, Share, Forecast, & Trends Analysis by Offering (Solutions and Services), Mode of Automation (Semi-automatic Systems and Fully automatic Systems), End User (Pharmaceutical Industry and Biotech Industry), & Geography —Global Forecasts to 2031
Meticulous Research®—a leading global market research company, published a research report titled, ‘Pharmaceutical Automation Market – Global Opportunity Analysis and Industry Forecasts (2024- 2031)’. According to this latest publication from Meticulous Research®, the pharmaceutical automation market is projected to reach $25.11 billion by 2031, at a CAGR of 10.8% from 2024 to 2031. The growth of the global pharmaceutical automation market is fueled by the rising adoption of robots in pharmaceutical manufacturing, government initiatives to support industrial automation, and increasing demand for energy-efficient systems. However, the high capital expenditure (CAPEX) required may hinder market growth.
Furthermore, the rising demand for IIoT in pharmaceutical manufacturing is expected to generate growth opportunities for the stakeholders in this market. However, the lack of availability of a skilled workforce and cybersecurity risk associated with automated systems is a major challenge impacting the market growth.
Based on offering, the pharmaceutical automation market is segmented into solutions and services. In 2024, the solutions segment is expected to account for a larger share of 87.5% of the global pharmaceutical automation market. The large market share of this segment is attributed to the increasing demand for automation to ensure high-quality and reliable manufacturing, the rising need for real-time monitoring and predictive maintenance capabilities, and the growing requirement for mass production that enhances operational efficiency while reducing operational costs and downtime.
Moreover, the solutions segment is expected to register a higher CAGR during the forecast period.
Based on mode of automation, the pharmaceutical automation market is segmented into semi-automatic systems and fully automatic systems. In 2024, the semi-automatic systems segment is expected to account for a larger share of 57.4% of the global pharmaceutical automation market. The large market share of this segment is attributed to benefits of semi-automatic systems such as energy efficiency, and cost-effectiveness than fully automated systems, and requirement of smaller initial investment for implementation of semi-automatic systems.
However, the fully automatic systems segment is anticipated to register a higher CAGR during the forecast period.
Based on the end-use industry, the pharmaceutical automation market is segmented into the pharmaceutical industry and the biotech industry. In 2024, the pharmaceutical industry segment is expected to account for a larger share of 61.7% of the global pharmaceutical automation market. The large market share of this segment is driven by the increasing integration of machine vision, spectroscopy, and chromatography in inspection systems to detect defects, impurities, and inconsistencies in pharmaceutical products, and the growing application of AI technology in pharmaceutical manufacturing and growing adoption of robots in manufacturing facilities.
Moreover, the pharmaceutical industry segment is projected to register the highest CAGR during the forecast period.
Based on geography, the pharmaceutical automation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of 32.9% of the global pharmaceutical automation market. This regional market’s large market share is attributed to the rising pharmaceutical manufacturing businesses in the region, growing adoption of automation technologies such as process analytical technology (PAT), and real-time monitoring systems enable continuous monitoring and optimization of pharmaceutical manufacturing processes, rising technological advancement such as AI, robotics, and digitalization in the region, growing initiatives by several government to boost Industry 4.0 across the region.
However, Asia-Pacific is poised to register the highest CAGR of 11.8% during the forecast period.
Key Players:
Some of the key players operating in the pharmaceutical automation market are Siemens AG (Germany), Emerson Electric (U.S.), Mitsubishi Electric Corporation (Japan), ABB Ltd (Switzerland), FANUC CORPORATION (Japan), Honeywell International Inc. (U.S.), KUKA AG (Germany), Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), YASKAWA Electric Corporation (Japan), Yokogawa Electric Corporation (Japan), General Electric Company (U.S.), OMRON Corporation (Japan), Advantech Co., Ltd. (Taiwan), and Fuji Electric Co., Ltd. (Japan).
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Key questions answered in the report-
- Which are the high-growth market segments based on offering, mode of automation, and end user?
- What was the historical market for pharmaceutical automation?
- What are the market forecasts and estimates for the period 2024–2031?
- What are the major drivers, restraints, and opportunities in the pharmaceutical automation market?
- Who are the major players, and what shares do they hold in the pharmaceutical automation market?
- How is the competitive landscape in the pharmaceutical automation market?
- What are the recent developments in the pharmaceutical automation market?
- What are the different strategies adopted by the major players in the pharmaceutical automation market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global pharmaceutical automation market, and how do they compete with the other players?
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